Home Selling in Wisconsin>Question Details

Paul, Home Seller in Milwaukee, WI

I am selling a house, I have accepted an offer and the inspection has taken place. I no longer want to sell

Asked by Paul, Milwaukee, WI Tue Oct 14, 2008

the house, can I back out of this sale?

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Answers

4
Paul
What does your Realtor say?
If you need legal advice, and it sounds like you do, then you need to talk with an attorney.
Keith
0 votes Thank Flag Link Wed Oct 15, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi Paul:
Difficult to answer without knowing all the pieces of the puzzle. The reason we have contracts and contract law is to provide a binding agreement between parties and to reduce that agreement to writing, so that there is good understanding of what has been promised. If the buyer has performed with respect to your contract, then it may be difficult to break it without some cost on your part. Of course, both parties have legal remedies as it pertains to that contract, and you may want to not only contact your agent, but an attorney, who can advise you as to your rights.
It may be important, Paul, if this is your homestead, and not an investment property. If you have had situations change and you no longer wish to sell your home, you'll likely be better off.
Call the experts to navigate your way through your recent decision.
0 votes Thank Flag Link Wed Oct 15, 2008
Paul-When you accepted the offer you created a binding contract between you and the Buyer. That being said there may be some contingencies in the offer that would allow you to deem it null and void. I would suggest you find a real estate attorney and have them review your offer and advise you as to what your options might be. As a real estate agent, I cannot give you legal advice. A few minutes with a real estate attorney will be money well spent regarding this issue.
0 votes Thank Flag Link Wed Oct 15, 2008
What made you change your mind? You need to look at the offer and see if you have the right to cure. Have you spoken with your agent say you have an issue with it? Are you upset with what they found and want you to repair? I would need more information before I could answer you in the right way. I would tell you to talk with your agent. They will be able to direct you in the right way and know how the offer was written.
Web Reference: http://www.debbyrealtor.com
0 votes Thank Flag Link Tue Oct 14, 2008
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